Despite eight months of due diligence, investment firm Temasek found no major concerns with FTX’s financials and no sign that the crypto exchange would eventually collapse. Singapore’s state-owned investment firm Temasek revealed despite eight months of due diligence in 2021, it didn’t find any significant red flags in FTXs financials before deciding to invest $275...Continue Reading

With Sam Bankman-Fried involved in so many philanthropic ventures, the fallout of FTX could also see a variety of grants and investments being subject to clawbacks or not honored. The fall of crypto exchange FTX appears to have already begun to impact the hundreds of grant recipients across a variety of philanthropic organizations backed by...Continue Reading

A spokesperson for Australian Treasurer Jim Chalmers said they are closely monitoring the fallout from FTX’s collapse. The Australian government has doubled down on its commitment towards a robust regulatory framework for crypto following the catastrophic collapse of FTX last week. A spokesperson for Australian Treasurer Jim Chalmers said the Treasury said it is now...Continue Reading

The blockchain-backed upgrade in the works for nearly five years has potentially cost Australia’s primary exchange over $170 million. The long-anticipated plans by the Australian Securities Exchange (ASX) to use blockchain to bring its clearing and settlements system into the 21st century have just been canceled. In a Nov. 17 statement, ASX announced it had...Continue Reading

The provisional liquidator overseeing the FTX Digital Markets bankruptcy proceedings says FTX wasn’t authorized to file for bankruptcy in the U.S without his approval. Brian Simms, the court-appointed provisional liquidator overseeing the bankruptcy proceedings of FTX Digital Markets in The Bahamas, has called into question the validity of a Chapter 11 bankruptcy filing by subsidiary...Continue Reading

The former CEO had a wide-ranging interview in which he made a number of startling remarks. The former CEO of FTX Sam Bankman-Fried has expressed deep regret over filing for Chapter 11 bankruptcy last week, calling it his “biggest single fuckup.”  In a wide-ranging interview with VOX which was published on Nov. 16, Bankman-Fried reportedly...Continue Reading

TSM confirmed that it remains “strong, profitable and stable” despite its decision to suspend the sponsorship with FTX. Professional esports organization Team SoloMid (TSM) (previously TSM FTX) has suspended its $210 million sponsorship deal with the now-bankrupt FTX crypto exchange “effective immediately” following the cryptocurrency trading platform’s shock collapse last week. The United-States-based esports organization made...Continue Reading

The new CEO of FTX gave a curt statement in response to the series of intermittent tweets by former CEO Sam Bankman-Fried. The new CEO and chief restructuring officer for the bankrupt FTX cryptocurrency exchange, John Ray, has icily responded to the erratic series of tweets from former CEO and founder Sam Bankman-Fried. The official...Continue Reading

People need time to catch up before Jack Dorsey tries to launch the next generation of the internet. It’s barely been a decade since the launch of Web3, and some are already talking about the next generation of the web Web5.  The concept of Web5 first emerged earlier this year with Jack Dorsey’s announcement about...Continue Reading

The stablecoin operator said the reliability of its reserves is important to highlight “at a time like this.” Tether has historically had issues with transparency. Tether issued a short statement on Nov. 16 saying that it has no exposure to institutional crypto lender Genesis Global or the Gemini Earn program after the announcement that Genesis...Continue Reading